Visa expands its PayPal Pyusd Payment Liquidation Platform, Avalanche and more

By Hannah Pérez

Visa announced the incorporation of 3 new stablecoins and two blockchain networks to its payment liquidation platform. Pypal Pyusd added, USDG of Paxos and EURC of Circle, as well as the Stellar and Avalanche networks.

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Visa shows its commitment to innovation of payments in blockchain.
Add 3 new stablecoins and two blockchain networks to its payment liquidation platform.
Sum Pyusd from PayPal, USDG of Paxos and EURC of Circle, as well as the Stellar and Avalanche networks.
“The Stablecoins ecosystem is expanding and Visa is at the forefront,” he said.

THE GIANT OF PAYMENTS Visa It continues to expand its footprint in the digital asset market. This time, it is expanding its liquidation platform for Stablecoins With the integration of new Blockchains and tokens with fiduciary parity.

In a press release on Thursday, Visa He announced that he is adding support for two additional stablcoins backed by US dollar, two block chains and a token backed by euros.

In particular, the Global Payment Company will now support Pyusd de PayPal, Global Dollar (USDG) – One Stablecoin backed by dollars issued by Paxos-, and EURC of Circlelinked 1: 1 to the euro. As for block chains, Visa has added support for Stellar and Avalanchethat are added to the already compatible networks, Ethereum and Solarium

With these incorporations, the liquidation platform for Visa Now admits four Stablecoinsincluding USDC, in four networks Blockchainproviding its partners accessing liquidation both in dollars and euros.

Visa is “at the forefront” of the stablcoins

The credit card issuing company cited the growing demand for Stablecoins. Banks and high -profile financial institutions worldwide have begun to move quickly towards the sector amid greater regulatory clarity in markets such as Europe and the USA.

“The Stablecoins ecosystem is expanding and Visa is at the forefront of its development“read in the statement.

“As the global interest in stable currencies becomes prominent, Visa is taking advantage of its leadership in space and allowing support for more stablecoins and more blockhains to facilitate liquidation transactions. ”

Visa He has been adapting its liquidation platform, which is basically its payment infrastructure, with the aim of modernizing digital payments and making them more interoperable, scalable and reliable. Traditionally focused on fiduciary currency settlements, the platform of Visa opened to the tokens in Blockchain In 2021 with the initial integration of USDC.

Now, its last expansion reflects the company’s commitment to innovation in the space of cryptocurrencies and its vision of leading the adoption of Stablecoins In global trade. By admitting multiple chains and tokens, Visa Its objective is to reduce friction for both wallets and developers, while responding to the growing demand for interoperable payments.

Interoperability and payment flexibility

Beyond the settlement of stable currencies, Visa He has also been working with card issuers to bring paid products linked to Stablecoins to the market. The company said in its statement that the growing demand for developers, banks and merchants is promoting the need for a more interoperable and flexible settlement layer.

“Visa is building a base of multiple coins and multiple chains to help meet the needs of our partners worldwide”Said Rubail Birwadker, global director of growth products and strategic associations of Visa.

We believe that when stable currencies are reliable, scalable and interoperable, they can fundamentally transform the way money moves around the world.

The stablecoins are increasingly considered one of the most promising applications of cryptocurrencies, according to some analysts, the market could grow to more than USD $ 2 billion in the coming years, compared to USD $ 273,000 million.

Article written with the help of AI, by Hannah Estefanía Pérez / Diariobitcoin

Edited image of Unspash

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